Shin Chang-Jae joined Kyobo Life Insurance in 1996 and became chairman and CEO in 2000--taking over from his father, Shin Yong-Ho, who founded the company (formerly known as Daehan Kyoyuk Insurance Co.) in 1958. Kyobo is South Korea's third-largest life insurer in terms of premium income. Through an extensive distribution network of agents and financial planners, the company offers insurance and asset-management products to more than 5 million customers. Besides traditional life insurance--a mature and highly competitive market in South Korea--the company offers health, disability and long-term-care coverage. Retirement planning and financial consulting services, annuities and mutual funds, and pension products for individuals and businesses also figure in the mix. The company consistently receives high marks in third-party assessments of customer satisfaction, corporate ethics, social responsibility and community service. Shin, who maintains a busy schedule of public speeches and lectures, is known for his engaging personality and commitment to helping others. "When it comes to encouraging his employees," the company notes on its Website, "Mr. Shin never gets tired of transforming himself into stunning figures: an aproned waiter, a chef in uniform and a singer playing guitar at charity meetings organized by his employees." In 2010 he received the 19th Montblanc de la Culture Arts Patronage Award for his long-time support of Korean literature through the Daesan Foundation, established under the auspices of Kyobo by his father. Shin Chang-Jae has served as chairman of the foundation since 1993. In addition to administering the Daesan Literary Awards, it distributes grants to foster talented writers, support the translation of Korean literature into other languages, and promote the study of Korean literature overseas. To encourage young readers, Shin Yong-Ho also established, in 1980, what has become perhaps the most famous bookstore in South Korea--the Kyobo Book Center at the insurer's headquarters building in Gwanghwamun, in downtown Seoul. Before joining Kyobo Life Insurance Shin trained as an obstetrician and worked as a medical school professor at Seoul National University. Now speculation swirls around which of his two sons might succeed him. Neither one has gotten shares yet. More »

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